All Forum Posts by: Dan Amaro

The property has 4 units now.  The property grosses $1,750 per month currently.  

We cover water, electricity, and gas for 2 of the 3 units that are occupied.

One of the Four units is a storefront and used as empty space for now.  

The goal for that is to save up funds and when first floor tenant moves we will combine it with the first floor apartment adding 3 beds and a bath (4 bed , 2 bath total in future unit).  

After the renovation our goal is to raise the rent from $500 to $850.

I believe central Ohio has everything a cash flowing investor is looking for.  There’s plenary of room to add value and raise rents.

For example, I bought my property with 2 units + store front rented at $300 total.  I purchased for $73,000 and raised rents to $1,100.  Then added another unit upstairs adding another $650.  

Because of this I became a Real Estate Agent and love serving investors.  Send me an email and let’s get started.

Buy and sell tomorrow with Dan Amaro.

Patrick, I have made prime examples to illustrate the difference on ACTUAL deals in my market:

All Cash:  https://www.biggerpockets.com/...

25% down:  https://www.biggerpockets.com/...

Cash on Cash is higher on the 25% down.  I would love to send you more deals like this to purchase in Central Ohio

I don't think I could get an investor to pull the trigger based on these numbers.  Kinda makes these investments that my investors don't want look AMAZING!


    https://www.biggerpockets.com/...

My first sale as a Real Estate Agent was to a family moving from out of state.  Before I was a home REA I inspected homes for insurance companies and used that as leveraged giving them assurance I am the best boots on the ground they could have with connections for all of their needs from lending to contractors.  

I've closed an additional 3 deals with an oversea's investor from Israel that I met on Facebook groups similarly but one of these deals is a flip so I had to manage multiple contract walk throughs, inspections, and half manage the project.

Central Ohio is booming y'all, contact me to get involved.

In approximately 3 years I would like to convert it into a large apartment with the existing floor apartment.  I need the tenant to move and save the funds for the project.  There isn’t enough parking on site for it to be used for much else besides an office or music studio.

Investment Info:

Small multi-family (2-4 units) buy & hold investment in Mansfield.

Purchase price: $73,000
Cash invested: $26,000

My first tangible goal was to own an investment property by March, 2021. This didn't close until September 7th, 2021.

Thanks to agent Amanda Garcia at Keller Williams in Ashland, OH who inspired me to become a Realtor!

What made you interested in investing in this type of deal?

Wanting to be apart of something I am passionate about and the cash flow!

How did you find this deal and how did you negotiate it?

My Real Estate agent Amanda Garcia

How did you finance this deal?

20% down (50/50 w/ partner) and 80% loan from traditional lender.

How did you add value to the deal?

Splitting the upstairs unit into two apartments and raising rent to market value.

What was the outcome?

Positive cash flow with three of the four units rented. The only unit NOT rented is a commercial space.

Lessons learned? Challenges?

NEVER LET SOMEONE WHO IS CURRENTLY ON PROBATION FOR CHARGES ASSOCIATED WITH DRUGS WORK ON YOUR PROPERTY. Long story short, my soon to be ex brother in law claimed to have known what he was doing with rehab / plumbing work and it was a lie. We overpaid him for crappy work that we had to pay someone to redo correctly.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

Yes and this experience led me to become a Real Estate sales person.

Some areas don't have agreements with Zillow so you won't find a lot of inventory without a realtor, like where I live near Ashland, OH.

Hey Jim! Are you still looking for cash flowing properties?